The dimensions and significance of the modern systems prove the necessity to change principles of the systems management. In order to decrease carbon dioxide (CO2) emissions, fight climate change, not adhere to fuel resources and increase energy security while decreasing its dependences on foreign countries, many country governments took actions to exploit its domestic resources and raise the renewable energies in the electricity production, that is why renewable energy is a key issue in today‘s world and may continue to play a globally essential role in the future. Turkey has a large renewable energy potential it is still on a development process and has relevant natural hydropower potential, which is about 1.1% of the world-wide and 13.75% of the European potential. The main purpose of this work is to develop optimal short-term planning mod-els for price taker hydropower producer working in the existing regimes. Those models have to deal with the huge level of uncertainty which is the water power introduces into the power system. Hydropower stations (20 MW or less) operation effectiveness under the condi-tions of market relations is defined by means of income value that is determined during the calculation period. This income can be obtained in the regime providing as large as possible HPP electric energy production with particular water con-sumption within a considered period. The value of these incomes can be calculat-ed in accordance with pre-set market prices for electric energy within the calculated period. This paper addresses optimization techniques, model applications, and opera-tional issues. Our goal was devoted to the problem of small HPP control regimes optimization. The task of a small HPP operation regime is solved for the maxi-mum income within the cases of the known variation of prices at the market. An optimization tool known as generalized reduced gradient method for nonlinear optimization tasks is used to plan hydropower production under uncertainties. The developed forecasting and optimization technics are established on optimization of the Cobanli HPP in Turkey considering hydropower production and flood control. Optimization of powerhouse regimes operation rules provides optimal solutions that have a larger hydropower potential compared to the present regulations. Simulations with a balanced optimum solution show a substantial increase of energy production. It’s concluded that real-time optimization in normal flow situations provide solutions that trades-off the immediate and the future value of hydropower production. We construct a model for scheduling hydropower system under uncertainty and fixed of electricity price and water inflow rates trying to achieve the maximum revenue.